State of Michigan Retirement System Boosts Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

State of Michigan Retirement System grew its position in Seagate Technology Holdings plc (NASDAQ:STX) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,405 shares of the data storage provider’s stock after purchasing an additional 200 shares during the quarter. State of Michigan Retirement System’s holdings in Seagate Technology were worth $4,955,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of Seagate Technology during the third quarter valued at about $26,000. Advisors Asset Management Inc. raised its holdings in shares of Seagate Technology by 177.9% in the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after buying an additional 258 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Seagate Technology during the third quarter worth $53,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Seagate Technology during the third quarter valued at $54,000. Finally, Brooklyn Investment Group acquired a new position in shares of Seagate Technology in the 3rd quarter valued at $56,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on STX. StockNews.com downgraded Seagate Technology from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Wedbush reaffirmed an “outperform” rating and set a $150.00 target price on shares of Seagate Technology in a report on Wednesday, January 22nd. Citigroup raised their price target on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Susquehanna upped their price objective on shares of Seagate Technology from $65.00 to $68.00 and gave the company a “negative” rating in a report on Wednesday, January 22nd. Finally, Northland Securities reissued an “outperform” rating and set a $160.00 target price (up previously from $144.00) on shares of Seagate Technology in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.56.

Seagate Technology Trading Down 6.3 %

NASDAQ STX opened at $86.64 on Friday. The stock has a market capitalization of $18.34 billion, a price-to-earnings ratio of 15.84 and a beta of 1.07. The stock has a 50-day moving average of $96.33 and a 200 day moving average of $99.84. Seagate Technology Holdings plc has a twelve month low of $82.31 and a twelve month high of $115.32.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.32%. Seagate Technology’s dividend payout ratio (DPR) is 52.65%.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.